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Equity Briefing: Upgrades and Downgrades for August 16th: ABC, ABFS, ACHN, ALE, AMAT, ANF, AVNW, AXP, BEAV

Thu, 08/16/2012 - 6:37am
The Associated Press

A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/arndailyr) and Equity Briefing:

Leerink Swann  downgraded shares of AmerisourceBergen Corp. (NYSE: ABC) from an outperform rating to a market perform rating.

Longbow Research  initiated coverage on shares of Arkansas Best Corp (NASDAQ: ABFS). They issued a neutral rating on the stock.

JMP Securities  upgraded shares of Achillion Pharmaceuticals Inc (NASDAQ: ACHN) from a market perform rating to an outperform rating. JMP Securities now has a $10.00 price target on the stock.

Ladenburg Thalmann  upgraded shares of ALLETE, Inc. (NYSE: ALE) from a neutral rating to a buy rating. Ladenburg Thalmann now has a $45.00 price target on the stock, up previously from $44.00.

Credit Agricole  downgraded shares of Applied Materials, Inc. (NASDAQ: AMAT) from an outperform rating to an underperform rating. Their analysts now have a $12.00 price target on the stock.

Susquehanna  downgraded shares of Applied Materials, Inc. (NASDAQ: AMAT) from a neutral rating to a negative rating. Their analysts now have a $9.00 price target on the stock, down previously from $10.00.

Deutsche Bank  reiterated its hold rating on shares of Applied Materials, Inc. (NASDAQ: AMAT).

Goldman Sachs  reiterated its buy rating on shares of Applied Materials, Inc. (NASDAQ: AMAT).

Needham & Company  reiterated its hold rating on shares of Applied Materials, Inc. (NASDAQ: AMAT).

Macquarie  downgraded shares of Abercrombie & Fitch (NYSE: ANF) from a neutral rating to an underperform rating. Their analysts now have a $25.00 price target on the stock.

Wedbush  upgraded shares of Abercrombie & Fitch (NYSE: ANF) from a neutral rating to an outperform rating. Wedbush now has a $45.00 price target on the stock, up previously from $30.00. They noted that the move was a valuation call.

Needham & Company  reiterated its buy rating on shares of Aviat Networks, Inc. (NASDAQ: AVNW). They noted that the move was a valuation call.

Janney Montgomery Scott  initiated coverage on shares of American Express (NYSE: AXP). They issued a neutral rating on the stock.

Jefferies Group  reiterated its buy rating on shares of BE Aerospace, Inc. (NASDAQ: BEAV).

Barclays Capital  initiated coverage on shares of Burger King Worldwide Inc (NYSE: BKW). They issued an equal weight rating on the stock.

Stifel Nicolaus  initiated coverage on shares of Annies Inc (NASDAQ: BNNY). They issued a hold rating on the stock.

FIG Partners  downgraded shares of Boston Private Financial Holdings Incorporated (NASDAQ: BPFH) from an outperform rating to a market perform rating. Their analysts now have a $10.50 price target on the stock.

Aegis  initiated coverage on shares of BioSpecifics Technologies Corp. (NASDAQ: BSTC). They issued a buy rating on the stock and set a $50.00 price target.

Deutsche Bank  downgraded shares of Bally Technologies Inc. (NYSE: BYI) from a buy rating to a hold rating. Their analysts now have a $49.00 price target on the stock.

Global Hunter Securities  initiated coverage on shares of C&J Energy Services (NASDAQ: CJES). They issued a buy rating on the stock and set a $26.00 price target.

Longbow Research  initiated coverage on shares of Con-way Inc. (NYSE: CNW). They issued a neutral rating on the stock.

Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at http://bit.ly/arndailyr

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Briefing via Thomson Reuters ONE

HUG#1634502

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